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Henderson raises offer for John Laing

The fight for John Laing Group has moved up another notch, with fund manager group Henderson raising its offer for the developer to £1bn.
This now beats the offer from German rivals Allianz, who offered £957M last week.Henderson started the bidding back in September, with a £886M offer. The takeover speculation has seen John Laing shares rising sharply over the autumn.The new bid, from Henderson's HIH unit, offers 405 pence per share. John Laing's share price hit 423 1/2 at the time of writing, with the City expecting further offers.'We hope the offer is accepted. We think this is a very strong asset and our offer represents that. It's a business with attractive cashflows and leading the way in its sector,' an HIH spokesman told Reuters.John Laing runs several UK PPP and PFI projects, including Chiltern Railways, and specialises in infrastructure.

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